This article has been translated from English to Gen Z Slang.
The major players in the finance game took a breather on Tuesday while traders sifted through a cocktail of economic deets, corporate tea ☕️, and world news gossip. 📈
With major moves from central banks coming in hot soon, everyone stayed cautious with their risk. 😅
Here's the tea you might've missed from the latest trading sessions! 🚀
The Hot Goss:
- Euro Area ECB consumer inflation expectations for June: 2.6% (vs. the hopes of 2.9%; last month was 2.8%)
- U.K. living that mortgage life for June: 5.34B (folks thought it'd be 0.8B; last time it was 2.05B)
- BOE consumer credit for June: 1.42B (expected 0.87B; previous was 0.86B)
- U.K. mortgage approvals were on fleek in June with 64.17k (called for 62.0k; previously 63.03k)
- U.K. net lending to individuals for June: 6.76B (everyone thought 4.1B; last round was 2.9B)
- The IMF is acting like a proud mom 💁♀️ and hyped global growth for 2025 and 2026, creditin' pre-August 1 U.S. tariffs shopping spree and sleeker tariff vibes in the U.S.
- Ugh, the U.S. goods trade balance for June came in at: -85.99B (they expected worse, -97.2B; last was -96.59B)
- U.S. S&P/Case-Shiller home price for May: 2.8% y/y (peeps expected 3.0%; previous 3.4%); 0.4% m/m (0.6% was the goal; previous 0.8%)
- U.S. house price index for May: 2.8% y/y (thought 2.5%; old news was 3.0%); -0.2% m/m (exactly called it; last time -0.4%)
- U.S. JOLTs job openings for June: 7.44M (everyone was super close at 7.5M; past was 7.77M)
- U.S. JOLTs job quits for June: 3.14M (had bets on 3.21M; previously 3.29M)
- U.S. CB consumer confidence for July: 97.2 (peeps guessed 95.0; old timey was 93.0)
- ECB's Makhlouf said we're in full "Netflix and chill" mode with ECB bizness
- Star of the show, Trump, says Russia’s gonna face some serious tariff drama in 10 days if Ukraine tea doesn't spill
- U.S. Dallas Fed services index for July: 2.0 (forecasts said 1.0; last time was -4.4)
- U.S. 7-year note auction: bosses got 4.09% of the pot (previously got 4.02%)
- U.S. API crude oil stock change for July 25: 1.54M (last season was -0.58M)
Market Mood Swings 🌈:
Dollar Index, Gold, S&P 500, Oil, U.S. 10-yr Yield, Bitcoin Overlay Chart by TradingView
Tuesdays got everyone feeling like they're in their own music video as folks prepped for the Fed's next scene. Across the pond in Europe, stocks got lit with Stoxx 600 jumping 0.43%, and Germany’s DAX plus France’s CAC 40 flexing over 1%. AstraZeneca's glow-up with a 30% profit boost and EssilorLuxottica was the inspo. EU-US trade deal drama? Everyone snoozed on that. 💤
Stateside, vibes were chilly. The S&P 500 fell 0.30% and Nasdaq took a skip at 0.38% after UnitedHealth and Boeing served meh reports, dampening the mood. Gold stepped it up to $3,325 while everyone kept fingers crossed for deets on trade talks, but optimism was running lowkey dry. 💰
Treasury yields took a serious dive, with the 10-year hanging at 4.33% post a bomb 7-year auction. WTI crude oil spiked to $69.50 after Trump shifted his peace date on Russia-Ukraine chit-chat and hinted at extra drama on Russian oil buyers. Meanwhile, Bitcoin cooled to $117,900 with everyone treading carefully ahead of this week's central bank shindigs.
FX Market Vibes: U.S. Dollar vs. The Big Dogs:
Overlay of USD vs. Majors Chart by TradingView
The dollar was chillin' on Tuesday, playing the "wait-and-see" card while everyone was vibing on trade talks and the Fed's upcoming decisions. Things got lit at the European opening as optimism gave the dollar a little spring in its step, climbing to a five-week high. 😎
But then, momentum fizzled out in the European morn as traders cashed in and no spicy deets came through. EUR/USD slid back to around 1.1580 as those trade agreement dreams started to dim. 🌥️
The dollar got a second wind just before the U.S. market joined the chat, and again when June’s trade troubles narrowed madly to $85.99 billion. But, mixed signals kept the party from full hype mode. JOLTS job openings were a slight letdown at 7.437 million, while consumer confidence pulled a fast one jumping to 97.2. 👍
By close time, the dollar scored against most of the main crew, except the yen, which held its ground. USD/JPY dipped to 148.12 as everyone still leaned on safe-haven feels with an action-packed week ahead. 🤔
Hot Takes on What's Next: Economic Calendar Edition 🗓️📈
- France's GDP flash drama for Q2 2025 is unfolding at 5:30 am GMT
- Germany retail game for June kicks in at 6:00 am GMT
- Swiss KOF leading vibes for July at 7:00 am GMT
- Swiss mood check with econ sentiment index for July at 8:00 am GMT
- Germany is dropping its GDP beats for Q2 2025 at 8:00 am GMT
- Euro Area consumer inflation dreams for July at 9:00 am GMT
- Euro Area confidence vibes for July at 9:00 am GMT
- Euro Area mood board for July also at 9:00 am GMT
- Euro Area’s GDP sneak peek for Q2 2025 at 9:00 am GMT
- U.S. backdrop player MBA mortgages for July 25 at 11:00 am GMT
- U.S. ADP employment chit-chat for July at 12:15 pm GMT
- U.S. headline act GDP flash for Q2 2025 at 12:30 pm GMT
- U.S. core PCE price teaser for Q2 2025 at 12:30 pm GMT
- U.S. GDP mood check for Q2 2025 at 12:30 pm GMT
- U.S. Treasury refund plot twist at 12:30 pm GMT
- Canada getting serious with BoC interest rate vibes for July at 1:45 pm GMT
- U.S. pending home dreams for June at 2:00 pm GMT
- Canada BoC spilling some tea at a presser at 2:30 pm GMT
- U.S. EIA crude oil for July 25 fun facts at 2:30 pm GMT
- U.S. FOMC statement showtime for July at 6:00 pm GMT
- U.S. FOMC presser dropping at 6:30 pm GMT
- RBA crew member Hauser speaking at 11:20 pm GMT
- Japan getting industrial with production hints for June at 11:50 pm GMT
- Japan doing retail numbers for June at 11:50 pm GMT
Traders are buckled up for a rollercoaster with heavy-data drops and bank vibes filling the next sessions. Euro pairs might feel the buzz early from Germany and France's GDP stories and some mood surveys that could stir up ECB rate tea. ☕️
In the U.S.A., ADP jobs, Q2 GDP, and core PCE might just shake things before the FOMC and BOC decide what's up, potentially vibing up USD and CAD action big time if either side flips their script. 🔄
Always keep it flexy and don’t forget to check out our Forex Correlation Calculator when you’re hustling those trades! 🔍💸
